Inflation is when the prices of goods begins to increase,for example we all can see the huge increases in the price of gas from 10 years ago to now. The definition of inflation is, a persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services. Our current inflation rate is 4.28%
Another term used is deflation, which is the opposite of inflation. The prices of goods begins to decrease in time.
Inflation is when the prices of goods begins to increase,for example we all can see the huge increases in the price of gas from 10 years ago to now. The definition of inflation is, a persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services. Our current inflation rate is 4.28%
Another term used is deflation, which is the opposite of inflation. The prices of goods begins to decrease in time.
Vocabulary: Inflation, deflation, hyper-inflation, stagflation, CPI